US Stocks Slip as Tariff Deadline Looms
US stocks ended lower on Thursday as investors monitored the approaching deadline for US President Donald Trump's new tariffs, set to take effect Friday alongside the rollout of several new trade agreements.
The Dow Jones Industrial Average slid 330.3 points, or 0.74%, closing at 44,130.98. The S&P 500 dipped 23.51 points, or 0.37%, to 6,339.39, while the Nasdaq Composite slipped 7.23 points, or 0.03%, to 21,122.45.
Sector performance painted a mixed picture: nine of the 11 primary S&P 500 sectors ended in the red, with Health and Real Estate leading the declines (-2.79% and -1.73%). Communication Services and Utilities bucked the trend, rising 2.08% and 0.59%.
Stocks trimmed earlier gains after Trump confirmed the tariffs would take effect on Friday. He also announced a 90-day extension of existing tariff rates with Mexico, giving businesses more time to adjust.
As markets brace for these changes, investors will be watching Friday's open closely to see how the new tariffs and trade agreements shape market sentiment.
Reference(s):
cgtn.com
